Bridgewater Developments Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 03076623 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 31 December 2014

for

Bridgewater Developments Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

G A Charrison

SECRETARY:

G A Charrison

REGISTERED OFFICE:

New Boundary House

London Road

Sunningdale

Berkshire

SL5 0DJ

REGISTERED NUMBER:

03076623 (England and Wales)

ACCOUNTANTS:

Wilson Partners Limited

Chartered Accountants

5a Frascati Way

Maidenhead

Berkshire

SL6 4UY

FIXED ASSETS

Tangible assets

2

-

-

Investment property

3

1,001,999

1,571,499

1,001,999

1,571,499

CURRENT ASSETS

Stocks

-

26,289

Debtors

4

463,996

439,987

Cash at bank

169,054

15,991

633,050

482,267

CREDITORS

Amounts falling due within one year

5

(19,479

)

(48,001

)

NET CURRENT ASSETS

613,571

434,266

TOTAL ASSETS LESS CURRENT LIABILITIES

1,615,570

2,005,765

CREDITORS

Amounts falling due after more than one year

5

-

(449,126

)

NET ASSETS

1,615,570

1,556,639

CAPITAL AND RESERVES

Called up share capital

6

1,000

1,000

Investment revaluation reserve

622,234

821,327

Profit and loss account

992,336

734,312

SHAREHOLDERS' FUNDS

1,615,570

1,556,639

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2014 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 8 September 2015 and were signed by:

G A Charrison - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention as modified by

the revaluation of certain assets and in accordance with the Financial Reporting Standard for Smaller

Entities (effective April 2008).

Exemption from preparing a cash flow statement

Exemption has been taken from preparing a cash flow statement on the grounds that the company

qualifies as a small company.

Turnover

Turnover represents rent receivable together with sale proceeds resulting from the sale of

properties held for development rather than investment purposes and are exclusive of Value Added

Tax.

Turnover represents the value of services provided under contracts to the extent that there is a right

to consideration and is recorded at the value of consideration due. Where services are provided and

the right to consideration is contingent on a specific future event which is outside the control of the

company then no turnover is recognised until that event occurs.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

25% on cost

Investment property

Investment properties are shown at their open market value. The surplus or deficit arising from the

annual revaluation is transferred to the investment revaluation reserve unless a deficit, or its

reversal, on an individual investment property is expected to be permanent, in which case it is

recognised in the profit and loss account for the year.

This is in accordance with SSAP 19 which, unlike the Companies Act 2006, does not require

depreciation of investment properties. Investment properties are held for their investment

potential and not for use by the company and so their current value is of prime importance. The

departure from the provisions of the Companies Act 2006 are required in order to give a true and

fair view.

Stocks

Stock represents property held for redevelopment. Stock is valued at the lower of cost and net

realisable value.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed

at the balance sheet date, where transactions or events that result in an obligation to pay more or a

right to pay less tax in the future have occurred by the balance sheet date with certain limited

exceptions.

Deferred tax is calculated on an undiscounted basis at the tax rates that are expected to apply in the

periods in which the timing differences are expected to reverse, based on tax rates and laws enacted

or substantively enacted at the balance sheet date.

No provision has been made for deferred tax on gains recognised in revaluing investment properties

to their market value as FRS19 does not permit deferred tax to be recognised on revalued properties

unless the company has entered into a binding agreement to sell the property.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2014

and 31 December 2014

6,025

DEPRECIATION

At 1 January 2014

and 31 December 2014

6,025

NET BOOK VALUE

At 31 December 2014

-

At 31 December 2013

-

3.	INVESTMENT PROPERTY

Total

£

COST OR VALUATION

At 1 January 2014

1,571,499

Disposals

(569,500

)

At 31 December 2014

1,001,999

NET BOOK VALUE

At 31 December 2014

1,001,999

At 31 December 2013

1,571,499

4.

DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

The aggregate total of debtors falling due after more than one year is £ 0 (31.12.13 - £ 23,000 )

5.

CREDITORS

Creditors include an amount of £ 0 (31.12.13 - £ 488,895 ) for which security has been given.

They also include the following debts falling due in more than five years:

31.12.14

31.12.13

£

£

Repayable by instalments

-

281,363

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.14

31.12.13

value:

£

£

1,000

Ordinary

£1

1,000

1,000

7.	ULTIMATE CONTROLLING PARTY

The controlling party is G A Charrison.